Joint Legislative Public Hearing on 2023-2024 Executive Budget Proposal: Topic Economic Development

Thursday February 9, 2023 – 9:30 AM
Legislative Office Building, Hearing Room B

John Scheib of Scheib Associates, Inc. offers testimony regarding the proposed $455,000,000 state loan to Belmont Park and the ongoing annual subsidies of $230,000,000 to NY racecourses. It is questionable if NYRA (New York Racing Association) can pay the loan back. New York State racecourses would not exist except for the financial backing of NYS tax dollars. There is also the moral issue of the number of horses killed on racetracks. Is this how New Yorkers want our legislators to spend our tax money?